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needs help and negotiation. >> with all the focus internationally -- you're joining us from paris today. what important policy issues is its crowding out? where should our focus be at the moment? >> well, of course it's crowding out the issue of how we deal with our friends in europe who are suffering terrible economic pressure. europe is in a drought of no growth, of high unemployment and of real concern about what they do about the eurozone, whether the eurozone itself will continue to hold together and be the right solution. this is an issue -- >> i was just going to say what is america's role here? why is this issue, what's happening in europe, something that should be more significant overseas? >> we're major trading partners with each other. europe is a source of american culture. source of america's most faithful allies. we cannot turn our back on europe and i don't think president obama has any attention of doing so. >> ron freeman, thank you very much for your time this morning. >> thank you, kelly. >>> plenty to get through. if you have any thoughts, you can e-mail us. as far
of concern about europe, our bookings at disney land paris are quite solid. that could be a result of a 20th anniversary celebration there that's really working. but i'd say as we look at our theme park sector, in part because of some of the investments we've made as well. notably california adventure here at disney land in california. we feel good about what we're seeing. there's demand for that product. it's showing up in our pricing and showing up in our advanced bookings. >> how are the advanced bookings looking for the holiday season? >> advanced bookings for the holiday season are looking good. there's a quirk in the calendar. christmas falls on a tuesday. so some of our peak season will also fall into our next quarter because of how the quarter breaks. our bookings for the christmas period overall, which include some spillover into the next quarter, we feel very good about. that's certainly true in california. it's true in florida. it's true in paris. >> bob, the last time we talked, you seemed passionate about the need to fix our debt as a country. i wonder what your take is on presi
of his deputies vacationing in paris. if you went back to baghdad, you'd be arrested. >> uh, no. nobody will arrest me. they will kill me. [ticking] [camera shutter snaps] >> these surveillance photos were taken by undercover police officers while they watched a team of seven south american thieves clean out an old navy store. >> shirts at $22.50, and they got the whole rack. >> when police moved in to make the arrest, they found enough merchandise to fill a room. all taken in less than an hour without anyone inside the store noticing a thing. [ticking] >> we have never seen a problem of this size and magnitude in world history. >> now hang on. in world history. >> there's more counterfeiting going on in china now than we've ever seen anywhere. >> name an american brand. any brand. any kind of product. just name it, and we'll tell you something about it. it's probably being counterfeited in china as we speak. >> this is the most profitable criminal venture, as far as i know, on earth. >> counterfeiting. >> counterfeiting and your partners don't kill you. >> welcome to 60 minutes on cnbc
. giving up some of these gains. ftse 100 up 0.4%. xetra dax half a percent. sp spain and paris in green. greek almost down 2% with greek bank stocks leading the way lower. dallas fisher said the u.s. central bank must set limits on its monetary policy. the hawkish fisher warned the size of the fed asset purchase program is abnormal saying he opposes an extension of operation twist. the latest s&p case shiller index due later today is expected to show continued improvement for home prices in 20 major u.s. cities. providing further evidence of a long term rebound for the sector or sdw does it. our next guest is eric glean, chief of u.s. rates research and strategy at td securities. paul dale is also still with us. eric, good morning. first to you. tell us why you're concerned the housing recovery might not be for real. >> well, we have seen fits and starts in this recovery. i do think it is for really. we won't be seeing an upward move, but there are encouraging signs. we're seeing home prices improve across most regions of the company. inventories on a monthly basis are half of what they
. >>> welcome to "worldwide exchange." you're seeing live shots from paris where mario draghi is speaking at a conference. let's listen in. >> certainly there has been recent progress in the convergence of relative costs and internal and external imbalance and i want to say a few words about this progress because we also miss to acknowledge the positive things that have happened in recent months. is this reflects stronger policy as well as structural reforms. trade balances havele also improv improved. in most cases this improvement has resulted from a combination of a relatively strong export growth particularly in spain and portugal, and very weak or negative import growth notably in greece. the contraction of domestic demand continues to play a role in this adjustment. part of this is cyclical. but it also reflects rebalance from previously unsustainable domestic demand growth. demand has to be contained and sbla h supply has to be increased. supply adjustment takes more time. there are also signs that competitiveness gains have contributed to recent improvements in current
no problem. so those stunning comments coming after he met with the unions in paris who were upset about the potential closing of the plant and then uses america as a cover. and then there was china. apparently our fiscal cliff mess has them up in arms. a chinese newspaper scolding the u.s. writing this. a country such as the united states that is accustomed to telling other nations to be responsible should on the one big problem concerning the future of the global economy show itself to be a responsible power. imagine that. china which we know doesn't play fair on chair or valuing currencies basically calling the u.s. irresponsible. and you know what? you can't argue with them. they are not wrong. our politicians have made it so a socialist government in france is looking to mimic us and a communist government is mocking us. take a look at the markets today. the dow jones industrial average had a burst at the close. it was up at 30 points
moment of the market, 2009, february 2009, we had the eve st. laurent sale in paris, world record prices achieved, $30, $40 million the worst part of the market. and that topped growth has been very much encouraging bidding, encouraging buying as well as encouraging great collectors to put their work on the market. so you've got not only great demand but you've got very good supply at the highest level. >> you know, behind you is andy warhol's "statue of liberty," we just showed it the estimate is about 35 million. do you think it might go for more than that and if so, where do you think the interest will come from, domestic or international? >> i think we will be looking at a market which is truly global. i think one of the things which has established the postwar contemporary market so much above any other market is fact we are not reliant on one economy. we are seeing very, very strong new emerging buyers coming out of the middle east, coming out of late.america and we have got the older collectors, very, very strong american. i think this is one of the things a bit of a fallacy you t
be tempted at some point if they see enough windows to go in. credit agricole shares are sinking in paris due to write downs on it assets in greece and other charges in italy, france and spain. the group had a loss of 2.85 billion euros, revenues down 32% after booking a charge of almost 2 billion euros on the sale of its greek unit. >>> stick around, because coming up in a little bit, german insurer allianz has maintained its 2012 targets despite super storm sandy. we'll speak to the cfo. >> plus coming up we bring you your very own blockbuster. [s #. >>> china releases improved economic data for october on the second day of the communist party congress. beijing inflation continues to cool. >> allianz maintains its full rear target despite super storm sandy on the back of solid quarterly results. we'll hear from the cfo. >> luxury goods make ir announces two ceos but admits to slowing asian sales. >> and credit agricole pays a steep price to exit greece as it takes a hit on the sale to alpha bank. >>> britain's trade deficit narrowed a little bit more than expected in september. third quarte
to flee the country because of the high income tax increase. stephane has more in paris. as we look at some pictures, how has this gone down in the rest of france? are they viewing this as a criticism of the french tax system or of him? >> it's all about francois hollande. he explained the policy of the government, including fiscal policy. there's not much room for depardieu this morning. but it's not a big surprise. it's one less paying taxes in france as a result of the new tax policy implemented by the socialist government. it's a report from the belgium newspaper, which is reporting that gerard depardieu brought a property in a small village located just by the french border, and plans to escape the tax implemented by the government. the mayor of the village was unable to confirm that gerard depardieu bought a home in the village. it wouldn't be surprising, though, because this small village already has a 27% french population. it's not glamorous like london, geneva or even monaco, but it would be the place to pay less taxes and being close to french border. he earned two millio
at the bourses. ibex 35 trying to buck the trend, but elsewhere seeing red, whether in paris, ex-extra dax down 0.4%, and we'll have plenty more in germany with silvia. we can take a look at the bond space and see a similar theme playing out. prices are falling, yields are rising. they've really maintained that one percentage point spread, but most back up to the psychological levels if nothing else. bunds 1.33%. it's extraordinary just what low levels we're seeing over here. quick look at forex. dollar-yen up three quarters of a percent there. again, on some of the political transition that may be happening in japan. euro-dollar is a little bit higher this morning, 1.2752. and a quick look at what's happening in the commodity space because yesterday this absolutely was the one to watch. on a day when we saw u.s. markets really falling on their face, we nevertheless saw increases in oil, not exactly what you like to see. has more to do with the violence we're seeing in gaza and we'll have plenty more on that story. we're seeing brent and nymex adding more. up 0.3% for brent. showing more of a rea
liquid in the eurozone. moody's joined s&p by stripping paris of its aaa rating citing growing about public debt levels and its diminished ability to withstand future euro area shock. bank of japan remains steadfast despite rising political pressure prompted by controversial comments from the likely next prime minister who has called for an unlimited amount of cash. he wants benchmark rates to come in below zero. but the bank of japan governor has dismissed those ideas. the chief said negative interest rates will lig early liquidity concerns in the market martin schultz is with us. thanks for joining us. is this a sign of things to come, a big standoff with japan? >> well, it's rather surprising that a hopeful government coming in is picking a fight with the bank of japan when they're starting off. what is happening here is that it seems that the ldp doesn't really have a growth strategy right now and the frustration in industry with the strong yen and slowdown in export is tremendous about that. >> big problems if we have unfettered money printing. would there be as he also says 30
, for more on this extraordinary tale, stephane joined us now from paris. is this as intrusive as it sounds? >> they are increasing the pressure to keep these furnaces in the northeast of france. however, francois hollande did use the same words as the industry minister earlier this week. the french industry minister said he was no longer welcome in france because of years of broken promises with the government. yesterday evening when he met with the ceo of the company, francois hollande urged the company not to shut down the furnaces in the northeast of france. he raised the possibility to temporary nationalize these activities, and he also asked to continue the negotiations until the deadline, which is set on december 1st, to find a potential buyer for these furnaces, which in total employees more than 600 people. in the meantime, the mayor of london couldn't miss such an opportunity to mock the french governmen government,. calling them a red call left wing movement during the french revolution in 1789. >> the french minister has been so eccentric as to call for a massive investor to dep
'm coming from paris in new jersey. i work in staten island but yesterday going home i was very low on gas so i stop and then park first and after an hour and a half to two hours waiting, i got to the gas station, unfortunately out of gas, there was no more gas. >> reporter: so he was here this morning. now along with power outages at the retail station, there are also power outages at the storage terminals in new jersey so that means the gasoline that's in those terminals can't be delivered to the stations. in addition the port of new york and new jersey is closed so gas can't be imported through that port, it has to go through alternatives and trucked in. in order to provide some relief, governor chris christie has waived basically a rule that prevents gasoline stations here in new jersey from buying gas from out of state dealers so that should provide some relief for residents. nevertheless, the relief isn't expected to come any time soon. expect some gas lines for a few days to come. if there's any good news, prices here at the vince lombardi station are only about five cents above the
by 0.5% as is the cac in paris and germany. the dax is off by 0.8%. >>> back in the united states congress returns to session today, this is the lame duck session that is kicking off. legislators faced a seven-week deadline to reach agreement on scheduled tax hikes and budget cuts that threatened to send the u.s. economy off a fiscal cliff. eamon javers, can we expect much? >> the lame duck session does begin today, as you say, and we can expect a lot this week, we'll see a lot of activity, if not real deal making, starting today let me walk you through the schedule of what will happen. congress is back today and also we're going to see the president of the united states meeting with progressive and labor leaders over at the white house, that's today. tomorrow we're going to see the president meeting with business leaders over at the white house, and we're also going to see the president hosting a press conference in which he'll take questions from reporters, remember his statement last week he didn't take questions. he's going to take some questions tomorrow and of course on frid
out buttons. >> i wasn't, but i was in paris and i went to abercrombie & fitch. and by the way, the store is unbelievable. unbelievable inside. >> bunch of freaks standing in line. weird looking people. >> because you walk and then they have models standing there without shirts on. >> weird-looking dudes and all young. maybe it's because they're young, that's why they look weird to me. revenue was $1.17 billion versus -- that's a big beat, though. and the guidance, 250 to 2.75, above where expectations were. that's a nice rebound. it had be been back in the 50s. and cisco reported 48 cents a share, 2 cents ahead of expectations, revenue was 11.88 billion, that was above expectations, as well, and that stock's getting a little bit of traction, still below 20. >>> still to come this morning, we do have breaking economic news, retail sales and ppi numbers coming out at 8:30. we'll get the numbers and tell you what they say about the upcoming holiday shopping season. >>> plus, venture capital meets the fiscal cliff. the man behind starters like tumblr and how technology companies a
like london and paris and frankfurt, and what's really important about being in those locations is it gives them an advantage over their competitors in that they're able to provide lower latency, able to provide a shorter distance from point a to point b for their customers. >> so that's something you like, and you've also been looking around at a pharmaceutical company in canada. what do you see there? >> yes, valiant pharmaceutical we think is a pretty interesting not your typical pharmaceutical company. when you think about a big pharma company you think about them spending a lot of money on r&d for drug development. that's not what valeant does. they're spending 3% instead of 20% on revenue. they're going out and they're finding interesting niche drugs and drug companies and acquiring them and they're cutting the expens expenses, plugging the drugs into their distribution and able to add a lot of shareholder value by doing that. >> so what first brought to you valeant? what made you find that company? >> we found it on a screen with our bottom up process we do a lot of scree
is pushing the eurozone into a new recession. oecd joining us from paris. good morning. we have a huge debate in this country about austerity and what it means. reading your new report, will seems to be a suggestion that the austerity in europe is actually holding things back. is that right? >> the thrust of the report shows that number one there is a need that the united states don't go over the fiscal cliff. but also that if you don't, there is growth in the united states and that in fact is the area that will be recovering faster. second, in the case of europe, good news, the greek package yesterday, thousand we still have to address institutional issues having to deal with countries under pressure like spain or italy, and of course solving the whole of the debt problems and getting all the elements of the machinery in place, a bazooka has to be fully loaded ready to fire, are made k markets have to know the bazooka is there in case there is greater volatility. but there is institutional progress, but we see a 2013, 4 2014 scenario of slow growth, sluggish growth, picking up a little in
deal does get done after the third round of talks right now it looks like london and paris are in the green as is frankfurt. our road map starts in omaha where conagra is buying ralcorp. a deal worth 6.8 billion including debt makes it the largest private label food manufacturer. has it lit a fire under m & a? >> don't come in with a negative attitude when i'm positive. >> we want to talk about the wave of special dividends. it continues. this time las vegas sands and dillard's, nearly 60 payments pulling payments forward ahead of tax changes next year. the question is who's next? >> greece gets the bailout payment as the eu and imf agree on terms of debt sustainability. where does it leave the greek economy which has already shrunk by nearly a fifth? >>> and warren buffett on tv this morning saying he wouldn't sell a single share of stock even if he was guaranteed the u.s. goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 b
. and it matters. thank you for make sure we know what's happening. >> do you go over to paris yet? >> no r, it's expensive. >> hitchhike. >>> coming up, you conditioned afford to wait until the opening bell rings. #. >>> if we go over the fiscal cliff, global business travel association estimates that u.s. biz travel spending will take a $20 billion hit in the short term. but how about the long term outlook? find out next. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reyno
Search Results 0 to 19 of about 20 (some duplicates have been removed)